Xiangdong Chen Buys 167,051 Shares of Gaotu Techedu (NYSE:GOTU) Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen bought 167,051 shares of the stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of $2.50 per share, with a total value of $417,627.50. Following the completion of the acquisition, the chief executive officer owned 8,014,529 shares of the company’s stock, valued at $20,036,322.50. This represents a 2.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Xiangdong Chen also recently made the following trade(s):

• On Wednesday, June 17th, Xiangdong Chen purchased 59,148 shares of Gaotu Techedu stock. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $143,138.16.
• On Tuesday, June 16th, Xiangdong Chen purchased 73,801 shares of Gaotu Techedu stock. The shares were acquired at an average price of $2.28 per share, for a total transaction of $168,266.28.
• On Thursday, June 11th, Xiangdong Chen acquired 200,000 shares of Gaotu Techedu stock. The shares were bought at an average cost of $2.23 per share, with a total value of $446,000.00.

Gaotu Techedu Stock Performance

NYSE:GOTU opened at $1.69 on Wednesday. The company has a fifty day moving average of $1.80 and a 200-day moving average of $2.07. The firm has a market capitalization of $404.15 million, a P/E ratio of -7.02 and a beta of 0.60. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.10. Gaotu Techedu Inc. has a twelve month low of $1.40 and a twelve month high of $4.12.

Gaotu Techedu (NYSE:GOTU) last released its earnings results on Tuesday, June 2nd. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $245.04 million for the quarter, compared to the consensus estimate of $233.35 million. Gaotu Techedu had a negative net margin of 6.42% and a negative return on equity of 29.69%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in Gaotu Techedu by 602.0% in the 1st quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock valued at $6,487,000 after acquiring an additional 1,711,774 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Gaotu Techedu by 157.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock worth $5,662,000 after purchasing an additional 958,782 shares in the last quarter. Marshall Wace LLP increased its holdings in Gaotu Techedu by 3,628.9% during the 2nd quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock worth $2,847,000 after purchasing an additional 767,394 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Gaotu Techedu in the second quarter worth approximately $910,000. Finally, Jump Financial LLC purchased a new stake in shares of Gaotu Techedu in the second quarter worth approximately $682,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gaotu Techedu presently has an average rating of “Sell”.

About Gaotu Techedu

Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.

The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.